Thursday, December 21, 2000, updated at 15:38(GMT+8)
Business
China Enhances Supervision over Securities Houses
The China Securities Regulatory Commission has issued new regulations on the inspection of securities houses, in a bid to prevent financial risks.
The new regulations, made available to Xinhua Thursday, concern the incorporation and closure of securities houses, the qualifications and behavior of senior management staff, and the effectiveness of an "in-house" control system.
The new stipulation allows the regulators to watch over the securities firms' daily operation for review of their operational risks in terms of net capital, asset and debt.
The information systems of securities houses shall also be subject to examination and review by the regulators.